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Email this8:03 am
May 9, 2012
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This an FYI for anyone else considering something similar.
I have been exploring places to park some USD and had a "conversation" with EQ's Virtual Assistant since their USD savings rate is high. It appears you can transfer USD into EQ Bank, but you cannot transfer USD out. You would need to convert to CAD first. Glad I asked and I will have to cross EQ off the list...
H.
8:17 am
April 6, 2013
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Why not?
US Dollar Account Fees & Features indicates that one can push up to US$30,000 per transaction out of the account to an external linked account.
8:22 am
May 9, 2012
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Here is the text from the Virtual Assistant:
Can I transfer USD from an EQ USD account directly to another Canadian Bank?
Transferring USD directly from your EQ Bank USD account to another Canadian bank's USD account is not supported. However, you can transfer funds from your EQ Bank USD account to your Personal Account, where the funds will be converted to CAD, and then transfer them to another Canadian bank. Alternatively, you can use our International Money Transfer service, powered by Wise, to transfer funds between your EQ Bank USD account and a USD account held in another country. For more details on international transfers, you can refer to this article.
8:52 am
May 9, 2012
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Update: I called EQ and it turns out EQ's Virtual Assistant is incorrect. They told me two way USD transfers are possible. Of course I will test this before before sending any large amounts.
My apologies for posting this thread before doing a full investigation (and for trusting the output of an AI!).
H.
9:08 am
February 20, 2013
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I confirm it is possible to transfer US $ to/from a linked US account.
9:11 am
April 5, 2017
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Just FYI. I've transferred USD in and out of my USD account at EQ a number of times. There are no issues. I've done transfers to USD accounts at Tangerine, Scotia Bank, etc. I have pulled money from my EQ USD account to several of my accounts at Questrade. I have pushed money from Questrade to my EQ USD account. There are daily limits at EQ and at the other institutions. If I remember correctly there's a transaction limit of $25k at EQ. This can be overcome by entering multiple transactions for varying amounts ... example, first transaction 25k, second transaction $24,999, and so on. I hope this information helps.
9:49 am
April 6, 2013
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Heddie said
Update: I called EQ and it turns out EQ's Virtual Assistant is incorrect. They told me two way USD transfers are possible. Of course I will test this before before sending any large amounts.My apologies for posting this thread before doing a full investigation (and for trusting the output of an AI!).
AI is not real intelligence and has no real understanding. Just a fancy natural language interface to a search engine. I got these in the same chat session:
Can I transfer USD from an EQ USD account directly to another Canadian Bank?
Thank you for your question! You can transfer funds from your EQ Bank US Dollar Account to a US dollar account held in another country using our International Money Transfer service, powered by Wise. However, EQ Bank does not support USD transfers directly to USD accounts at other Canadian banks, such as Simplii Financial. If you need more information on international money transfers, you can check out this article.
Can I transfer US$ from an EQ Bank US Dollar Account to an external linked US$ account?
Yes, you can transfer funds from your EQ Bank US Dollar Account to an externally linked USD account held at a Canadian financial institution. This allows you to move US dollars between your EQ Bank account and other USD accounts you may have. If you need more details on how to deposit or withdraw funds from your US Dollar Account, you can refer to the information provided in our knowledge base.
11:09 am
April 21, 2022
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Norman1 said
Heddie said
Update: I called EQ and it turns out EQ's Virtual Assistant is incorrect. They told me two way USD transfers are possible. Of course I will test this before before sending any large amounts.My apologies for posting this thread before doing a full investigation (and for trusting the output of an AI!).
AI is not real intelligence and has no real understanding. Just a fancy natural language interface to a search engine. I got these in the same chat session:
Can I transfer USD from an EQ USD account directly to another Canadian Bank?
Thank you for your question! You can transfer funds from your EQ Bank US Dollar Account to a US dollar account held in another country using our International Money Transfer service, powered by Wise. However, EQ Bank does not support USD transfers directly to USD accounts at other Canadian banks, such as Simplii Financial. If you need more information on international money transfers, you can check out this article.
Can I transfer US$ from an EQ Bank US Dollar Account to an external linked US$ account?
Yes, you can transfer funds from your EQ Bank US Dollar Account to an externally linked USD account held at a Canadian financial institution. This allows you to move US dollars between your EQ Bank account and other USD accounts you may have. If you need more details on how to deposit or withdraw funds from your US Dollar Account, you can refer to the information provided in our knowledge base.
Interesting, so it depends on how you ask the question.
4:18 pm
November 8, 2021
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JohnnyCash said
Interesting, so it depends on how you ask the question.
When one deals with money, one should not rely on a chatbot. Real world vs. artificial one.
11:59 pm
November 18, 2017
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Yet more evidence that the so-called "AI" moronbots should not be trusted with any significant real-world matters.
RetirEd
12:09 am
September 28, 2023
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As the bean counters continue to reduce payrolls, these moronbots will be increasingly difficult to avoid.
2:17 pm
April 6, 2013
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JohnnyCash said
Interesting, so it depends on how you ask the question.
It does. There is an art to obtaining correct answers from databases, Google Search, and AI chatbots. It is also true when one is asking branch staff.
If one walks into a branch and ask the staff whether the accounts support pushing and to pulling funds from digital-only banks, one isnn't going to receive much useful info. In contrast, if one asks them about support for direct deposits and pre-authorized debits, then one will receive better answers.
Please write your comments in the forum.